Massachusetts Offshore Wind Farm Project “No Longer Viable”

The economic realities are starting to catch up on so-called renewable energy projects. With the backing of the state of Massachusetts, the wind energy company named Avangrid has been developing a huge offshore wind farm called the Commonwealth Wind project. This effort has been going on for many years and, when completed, it was to be a 1,200-megawatt energy source. Another offshore project from Mayflower Wind was to produce an additional 400 megawatts. But now, due to the state of the economy, the companies behind these projects have requested the state to pause the projects.

A major offshore wind project in the Massachusetts pipeline “is no longer viable and would not be able to move forward” under the terms of contracts filed in May. Both developers behind the state’s next two offshore wind projects are asking state regulators to pause review of the contracts for one month amid price increases, supply shortages and interest rate hikes.

Utility executives working with assistance from the Baker administration last year chose Avangrid’s roughly 1,200-megawatt Commonwealth Wind project and a 400 MW project from Mayflower Wind in the third round of offshore wind procurement to continue the state’s pursuit of establishing cleaner offshore wind power. Contracts, or power purchase agreements (PPAs), for the projects were filed with the Department of Public Utilities in May.

It is ironic that this edifice is the victim of the very economic factors resulting from the policies state and federal officials pushed for, who are the same people who advocated for wind power to replace fossil fuels. Like the 1992 soundbite said: It’s the economy, stupid!

Image by Andrew Martin from Pixabay